Rio Tinto pulls the plug on Tiwai, wiping $2.8b off gentailers

Rio Tinto pulls the plug on Tiwai, wiping $2.8b off gentailers
Dan Brunskill
Energy stocks sank in early trading after Rio Tinto said it will shut the aluminium smelter at Tiwai Point next year, wiping more than $2.8 billion off the value of the country's five biggest electricity generator-retailers. New Zealand Aluminium Smelter - a joint venture between Rio Tinto and Sumitomo Chemical - has given Meridian Energy notice to terminate the smelter’s power contract when it ends in in August next year, by which time operations will be shut. Meridian shares sank 18 percent when trading opened on the NZX, and were recen...

More Infrastructure

Treasury sounded the alarm about $1b transport fund changes
Infrastructure

Treasury sounded the alarm about $1b transport fund changes

Officials recommended deferring decisions until Budget 2025.

'Wellington power grab': Congestion charging could fail
Infrastructure

'Wellington power grab': Congestion charging could fail

Auckland Council warns legal 'flaws' may make it reluctant to progress a scheme.

What's a life worth? Depends on the department
Policy

What's a life worth? Depends on the department

A consultancy argues different values of life are leading to an underinvestment in health.

Dileepa Fonseka 14 May 2025
Calder Stewart pitches 200ha Otago freight hub and inland port
Economy

Calder Stewart pitches 200ha Otago freight hub and inland port

The family-owned firm is up against another inland port proposal in Mosgiel.

Oliver Lewis 14 May 2025